BizReport

RSS feed Get our RSS feed

News by Topic




BizReport : Ecommerce : December 04, 2020


Cyber Week a mixed bag for merchants

Shoppers have quickly adjusted their traditional holiday shopping activities to include social distancing protocols amid the global COVID-19 pandemic, and much of that adjusting is going to spending more dollars digitally. That is a key takeaway from new Salesforce data which finds that from Thanksgiving Day through Cyber Monday, consumers spent about $270 billion (globally) and $60 billion (US).

by Kristina Knight

That spend includes significant increases in spending on Thanksgiving Day (20% increase YoY), Black Friday (23% increase YoY), and Cyber Monday (10% increase YoY). Additionally, the $60 billion figure is a record for Cyber Week sales in the US. One way shoppers were beating store closures or limited in-store numbers was by ordering online and picking up in store or using curbside delivery, which saw a 32% increase in use YoY.

"As retailers were forced to cut back hours and traffic in physical stores for safety, the industry experienced an unprecedented surge in digital sales over Cyber Week," said Rob Garf, VP of Strategy & Insights, Salesforce. "This year [Black Friday and Cyber Monday] became a bit marginalized as demand was pulled earlier in the holiday season and the week. The steady drumbeat of sales throughout the holiday will help retailers fulfill orders on time, which will be strained with the surge in online orders coupled with capacity issues of traditional shipping carriers."

More Salesforce holiday data can be accessed here.

Meanwhile, Adobe Digital Insights notes that Cyber Monday is now the single-largest online shopping day in history, with a reported $10.8 billion in sales according to their data. Their researchers found that post-Cyber Monday, shoppers were continuing to hit online outlets to make holiday purchases.

Their experts further found that mobile is playing a big part in holiday shopping this year, accounting for more than one-third (37%) of Cyber Monday sales.

"Throughout the remainder of the holiday season, we expect to see record sales continue and curbside pickup to gain even more momentum as shoppers avoid crowds and potential shipping delays," said Taylor Schreiner, Director, Adobe Digital Insights.

More data from Adobe can be found here.

And, even mid-pandemic or perhaps because of the pandemic, shoppers aren't setting aside luxury. New data out from Qubit finds that luxury retailers saw some of the highest revenue growth so far this season.

Shoppers have quickly adjusted their traditional holiday shopping activities to include social distancing protocols amid the global COVID-19 pandemic, and much of that adjusting is going to spending more dollars digitally. That is a key takeaway from new Salesforce data which finds that from Thanksgiving Day through Cyber Monday, consumers spent about $270 billion (globally) and $60 billion (US).

That spend includes significant increases in spending on Thanksgiving Day (20% increase YoY), Black Friday (23% increase YoY), and Cyber Monday (10% increase YoY). Additionally, the $60 billion figure is a record for Cyber Week sales in the US. One way shoppers were beating store closures or limited in-store numbers was by ordering online and picking up in store or using curbside delivery, which saw a 32% increase in use YoY.

"As retailers were forced to cut back hours and traffic in physical stores for safety, the industry experienced an unprecedented surge in digital sales over Cyber Week," said Rob Garf, VP of Strategy & Insights, Salesforce. "This year [Black Friday and Cyber Monday] became a bit marginalized as demand was pulled earlier in the holiday season and the week. The steady drumbeat of sales throughout the holiday will help retailers fulfill orders on time, which will be strained with the surge in online orders coupled with capacity issues of traditional shipping carriers."

More Salesforce holiday data can be accessed here.

Meanwhile, Adobe Digital Insights notes that Cyber Monday is now the single-largest online shopping day in history, with a reported $10.8 billion in sales according to their data. Their researchers found that post-Cyber Monday, shoppers were continuing to hit online outlets to make holiday purchases.

Their experts further found that mobile is playing a big part in holiday shopping this year, accounting for more than one-third (37%) of Cyber Monday sales.

"Throughout the remainder of the holiday season, we expect to see record sales continue and curbside pickup to gain even more momentum as shoppers avoid crowds and potential shipping delays," said Taylor Schreiner, Director, Adobe Digital Insights.

More data from Adobe can be found here.

And, even mid-pandemic or perhaps because of the pandemic, shoppers aren't setting aside luxury. New data out from Qubit finds that luxury retailers saw some of the highest revenue growth so far this season.






Tags: 2020 cyber week shopping, 2020 ecommerce, 2020 holiday shopping, Adobe Analytics, advertising, ecommerce, ecommerce trends, mobile commerce, mobile marketing, Qubit, Salesforce








Subscribe to BizReport







http://www.bizreport.com/2020/12/cyber-week-a-mixed-bag-for-merchants.html

 

 

Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.